XLU

Uh [snorts] XLU down 10% but don't they need the power for data centers? Maybe rebound coming. There's the belief there, but uh think about the capacity they have already. So, the old school utilities, and I'm going to sort of dissect them here. Old school utilities, they're not already doing this. They're not preparing for that. They can't handle all this extra at the moment. So, could there be something there? I don't know, but right now, think about it. Like, if Texas so much as has a hot day, they're like, "Everybody just don't turn your air on, you know?" They don't do that in Florida cuz well, we're smart, but the uh

And then we have utilities. That is a clear breakdown. It tried for quite some time to stay inside that trend channel. We had for a while that relative strength trying to hold up, but in the last 3 weeks that did not happen, and we broke that trend line. You can now see a clear move lower 1 to 3 weeks after that break. We're kind of resting at support now around 42.5. If that breaks, maybe it's like so here is a little bit more 41. And this whole area, if that gives way, there's a lot more downside to go for utilities. But also look at relative strength. This is a very clear penetration of its previous low, and that means unlocking more downside potential from a relative perspective. So, uh utilities very clearly an underperforming sector.